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cliff. a huge package of tax hikes and spending cuts will kick in january one. they spent time blaming each other for not getting serious. in his weekly address, president obama says he is ready to make a deal but wouldn't accept continued tax cuts for the wealthiest people. >>> the senate has already passed a bill to keep income taxes from going up on middle class families. democrats in the house are ready to do the same thing. and if we can just get a few house republicans on board, i'll sign this bill as soon as congress sends it my way. but, it is unacceptable for some republicans in congress to hold middle class tax cuts hostage simply because they refuse to let tax rates go up on the richest americans. >> republicans say tax hikes on the wealthy mean tax hikes for small businesses, something they insist they cannot accept. here is long-time gop senator orin hatch. >> unfortunately, some on the other side of the aisle are indicating a disastrous thelma and louise idea, that will put us
cliff. a huge package of tax hikes and spending cuts will kick in january one. they spent time blaming each other for not getting serious. in his weekly address, president obama says he is ready to make a deal but wouldn't accept continued tax cuts for the wealthiest people. >>> the senate has already passed a bill to keep income taxes from going up on middle class families. democrats in the house are ready to do the same thing. and if we can just get a few house republicans on board,...
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Dec 2, 2012
12/12
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fiscal cliff of tax increases and sharp spending cuts is now exactly one month away. in his weekly media address today, president obama again pushed his party's tax plan. of course, utah senator orrin hatch rejected in the republican response. >> both parties say we should keep middle class taxes low. the senate's already passed a bill to keep income taxes from going up on middle class families. democrats in the house are ready to do the same thing. if we can just get a few house republicans on board, i'll sign this bill as soon as congress send it my way. >> what he proposed this week was a classic bait and switch on the american people. a tax increase double the size of what he campaigned on. billions of dollars in new stimulus spending, and an unlimited, unchecked authority tow borrow from the chinese. maybe i missed it, but i don't recall him scwg for any of that during the presidential campaign. >> jarvis: parents and school boards across the country are debating whether to offer bonuses to teachers whose student do well on standardized tests. sharyl attkisson ch
fiscal cliff of tax increases and sharp spending cuts is now exactly one month away. in his weekly media address today, president obama again pushed his party's tax plan. of course, utah senator orrin hatch rejected in the republican response. >> both parties say we should keep middle class taxes low. the senate's already passed a bill to keep income taxes from going up on middle class families. democrats in the house are ready to do the same thing. if we can just get a few house...
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Dec 3, 2012
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cliff. the automatic spending cuts and tack increases that begin to kick in if there's no agreement by january 1st. 16 days to get here. >> i think we're far apart still, but i think we're moving closer together. >> i would say we're nowhere, period. we're nowhere. >> reporter: thursday treasury secretary timothy geithner proposed president obama's plan which included $1.6 trillion in tax revenue coming largely from an expiration of bush era tax cuts for families who make more than $250,000 a year. geithner says that's a must. >> there's not going to be an agreement without rates going up. >> reporter: the administration's plan also included $50 billion in new stimulus spending. boehner says the entire proposal represented three weeks of wasted time. >> i was just flabbergasted. i looked at him and said you can't be serious. >> reporter: the house speaker says republicans have put increased revenues, including efforts to close tax loopholes and reform the tax code, on the table instead of ra
cliff. the automatic spending cuts and tack increases that begin to kick in if there's no agreement by january 1st. 16 days to get here. >> i think we're far apart still, but i think we're moving closer together. >> i would say we're nowhere, period. we're nowhere. >> reporter: thursday treasury secretary timothy geithner proposed president obama's plan which included $1.6 trillion in tax revenue coming largely from an expiration of bush era tax cuts for families who make more...
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Dec 3, 2012
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in something like, what, 29 days now we're going to hit the fiscal cliff. spending cuts, tax hikes. until lawmakers can reach a deal. house speaker john boehner pr pretty blunt on on where he felt the cliff negotiations were standing. listen. >> i would say we're nowhere. period. we're nowhere. we've put a serious offer on the table by putting revenues up there to try to get this question resolved. but the white house has responded with virtually nothing. >> the nothing he's talking about is the president's plan which was delivered to gop leaders last week by the treasury secretary, timothy geithner. ca calls for $1.6 trillion in new revenue. republicans say that figure is unacceptable. until they present their own plan the white house is standing by that proposal right now. despite the parties and lines in the sand we're joined by two republican law make rs. i've overwhelmed by republican lawmakers this morning. >> you're surrounded, soledad. >> connie mack is with us this morning and mary bono mack. i'm used to it on this show. it's interesting to hear boehner saying, listen, nowh
in something like, what, 29 days now we're going to hit the fiscal cliff. spending cuts, tax hikes. until lawmakers can reach a deal. house speaker john boehner pr pretty blunt on on where he felt the cliff negotiations were standing. listen. >> i would say we're nowhere. period. we're nowhere. we've put a serious offer on the table by putting revenues up there to try to get this question resolved. but the white house has responded with virtually nothing. >> the nothing he's talking...
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we go over the so-called fiscal cliff. and massive government spending cuts. >> and some people fear going off of the cliff could cost thousands of jobs and push our fragile economy back in recession. it seems like we have been down this road before. that deal according to the president and congressional republicans is far from a sure thing. the president said it was a so-called balanced approach to solve this crisis and what he proposed this week was a classic bait and switch on the american people. >> it is unacceptable for republicans to hold middle class tax hostage because they refuse to let them go up on the wealthiest americans. >> people saying that the deal he offered doesn't look like a deal. steve is live in the washington bureau. is there any movement on either side. >> not much. a few republicans who are willing to talk about higher tax rev news but not higher tax rates. the president made a direct appeal to the public. the toy factory in pin pen. he urged congress to pass a bill and extend the era tax cuts fo
we go over the so-called fiscal cliff. and massive government spending cuts. >> and some people fear going off of the cliff could cost thousands of jobs and push our fragile economy back in recession. it seems like we have been down this road before. that deal according to the president and congressional republicans is far from a sure thing. the president said it was a so-called balanced approach to solve this crisis and what he proposed this week was a classic bait and switch on the...
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washington, the potential fiscal cliff is expected to bring tax hikes and spending cuts it all americans, and what is really at stake when it comes to your home? and we're going to take a look at what could happen if lawmakers and the white house don't reach an agreement very soon. >> kelly: indeed, we will. plus, a man counting his blessings after coming face-to-face with a shark. . >> you know, you've got to look at this at like the emt told me on the way here, you could have had this or struck by lightning and the odds are about the same. [ male announcer ] alka-seltzer plus presents the cold truth. i have a cold, and i took nyquil, but i'm still "stubbed" up. [ male announcer ] truth is, nyquil doesn't unstuff your nose. what? [ male announcer ] it doesn't have a decongestant. no way. [ male announcer ] sorry. alka-seltzer plus fights your worst cold symptoms plus has a fast acting decongestant to relieve your stuffy nose. [ sighs ] thanks! [ malennouncer ] you're welcome. that's the cold truth! [ male announcer ] alka-seltzer plus. ♪ oh what a relief it is! ♪ [ male announcer ]
washington, the potential fiscal cliff is expected to bring tax hikes and spending cuts it all americans, and what is really at stake when it comes to your home? and we're going to take a look at what could happen if lawmakers and the white house don't reach an agreement very soon. >> kelly: indeed, we will. plus, a man counting his blessings after coming face-to-face with a shark. . >> you know, you've got to look at this at like the emt told me on the way here, you could have had...
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. >> while the national dialog is focused on the fiscal cliff which has the potential to significantly affect state budgets many governors are also tackling the implementation of obama care. starting in 2014 medicaid will be expanded to all americans within 138% of the poverty line, which is individuals making $15,000 a year or less, give health care to as many as 21 million additional americans. eight governors including one of those at the white house today, oklahoma republican governor mary fallin are rejecting the offer, concerned their states may have to foot the bill down the road. the president was sure to have some thoughts following their pow wow at the white house. the six governors are on to meet with house speaker john boehner and senate majority leader harry reid this afternoon, also sure to have some thoughts. joy, the medicare question is really interesting in terms of how the governors play this one. in so far as, if you're a republican governor and offered the federal -- the federal government says it's going to cover i believe 100% of the cost of expanding the rolls f
. >> while the national dialog is focused on the fiscal cliff which has the potential to significantly affect state budgets many governors are also tackling the implementation of obama care. starting in 2014 medicaid will be expanded to all americans within 138% of the poverty line, which is individuals making $15,000 a year or less, give health care to as many as 21 million additional americans. eight governors including one of those at the white house today, oklahoma republican governor...
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cliff. house and senate republicans are dumbfounded over the latest proposal from keeping the nation from going over the fiscal cliff. the administration's plan includes 1.6 trillion in tax increases over the next 10 years. and over $600 billion in spending cuts and it is gop -- >> what is that? >> known, gt-o-p says even the cuts are offset by new spending proposals. lyndsay graham called it a joke. and when john baner asked what his initial reaction was, the house speaker was so angry he dropped an f-bomb. >> i was flabbergasted. for more on obama's plan let's go to dj mcpaw-paw mcwhiskers. >> that was amazing. he can really spin. you pay $35 to get him to show up. dan, when was the last time you were flabbergasted? isn't it hard to be flabbergasted? >> every time i read the business section. up and down i have so many stocks and stuff. >> say mutual funds. >> mutual funds and numbers. numbers. >> let me ask you, terry, is obama overreaching here? there is no reason to over reach here. exc
cliff. house and senate republicans are dumbfounded over the latest proposal from keeping the nation from going over the fiscal cliff. the administration's plan includes 1.6 trillion in tax increases over the next 10 years. and over $600 billion in spending cuts and it is gop -- >> what is that? >> known, gt-o-p says even the cuts are offset by new spending proposals. lyndsay graham called it a joke. and when john baner asked what his initial reaction was, the house speaker was so...
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Nov 30, 2012
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fiscal cliff? and you think that just the promise of spending cuts have to be included at this level and at this time? >> it is not productive for either side to lay out hard lines as for what size the spending cuts ought to be. there are a lot of options on how you can get there. but the second part of your question was? >> my question is do you think the promise of spending cuts has to be included in the deal that averts the fiscal cliff? >> there is a free-market we presented to the white house two weeks ago. the framework has been agreed to in terms of a down payment for the end of this year. that would include spending cuts and it would include revenue. setting up a process for entitlement reform next year and tax reform next year. but this is way out of bounds. and not a recognition by the part of the white house on the serious spending problem we have. >> facing the prospect of going over the fiscal cliff or extending the lower tax rate and at the upper one, which would you choose? >> i will
fiscal cliff? and you think that just the promise of spending cuts have to be included at this level and at this time? >> it is not productive for either side to lay out hard lines as for what size the spending cuts ought to be. there are a lot of options on how you can get there. but the second part of your question was? >> my question is do you think the promise of spending cuts has to be included in the deal that averts the fiscal cliff? >> there is a free-market we...
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cliff. we're just 31 days until the deadline which could potentially trigger $7 trillion in automatic spending cuts and tax increases. both republicans and democrats are at a standoff. they are each blaming the other side for holding up the process, but republican congressman terry lee says that by going over the cliff the president may have an ulterior motive. >> many of us fear that the president's real plan here was to let us go over the cliff and blame the republicans, and that's what we look like we're being set up to do, and then if you go over the cliff, then two months later, a month later, the president can come back with a bill and say, hey, we're going to now since the republicans let everyone's taxes go up, i'm going to ride in here now and be the -- the knight in shining armor and lower the taxes on the lower two brackets. >> it is a case that is sparking painful reminders of trayvon martin, another florida teenager shot to death in an incident that has racial overtones. i'm tal
cliff. we're just 31 days until the deadline which could potentially trigger $7 trillion in automatic spending cuts and tax increases. both republicans and democrats are at a standoff. they are each blaming the other side for holding up the process, but republican congressman terry lee says that by going over the cliff the president may have an ulterior motive. >> many of us fear that the president's real plan here was to let us go over the cliff and blame the republicans, and that's what...
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lawmakers have to resolve three issues -- first, the fiscal cliff. second, raising the treasury debt ceiling, which as you know is becoming an issue rarely soon. third, achieving long-term fiscal sustainability. that is deficit reduction and tax increases and spending cuts that allow the gdp ratio to stabilize by the end of the decade. these three things need to be done now. in terms of the fiscal cliff, if policy is unchanged and we go over the cliff and there is still no change after that, the gdp in 2013 will 3.5 percentage points. subtract that and that is a severe recession. cbo and others are probably us are underestimating how severe that will be because confidence is very weak. it is unclear how the reserve would response to this. we need to scale back from the cliff. at the very minimum, the cliff needs to be scaled back so it is only a hit to gdp at 1.5 percentage points at most. if you have more of a drive than that, it it becomes it. the economy will weaken. the budget deduction will deteriorate. we are seeing a fiscal drag in europe. i w
lawmakers have to resolve three issues -- first, the fiscal cliff. second, raising the treasury debt ceiling, which as you know is becoming an issue rarely soon. third, achieving long-term fiscal sustainability. that is deficit reduction and tax increases and spending cuts that allow the gdp ratio to stabilize by the end of the decade. these three things need to be done now. in terms of the fiscal cliff, if policy is unchanged and we go over the cliff and there is still no change after that,...
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january 2, 2013, $110 billion in fiscal cliff spending cuts due to begin. march 27, 2013, funding of the federal government expires. august 1, 2013, white house's suggested deadline for resolving major changes to the tax code and entitlements. ron has this to say about the fiscal cliff -- let's hear from ray in philadelphia, a republican caller. caller: good morning. i think the republicans have to get out a better message. if we realize we ran out of money for all the programs we are having, what is going to happen in another 10 years? what happens is, these people earning more than $250,000, they worked from the age of 18 to move up the ladder and finally reached success. the pint the republicans have to make is it is time to lower taxes on middle-class families. it has reached a pinnacle. it is time to may be lower taxes on the middle-class. we have to cut spending because the economy is in such bad positicondition. democrats keep pointing out that 98% of businesses are less than $250,000. 98% of people working in those businesses -- with that went to in
january 2, 2013, $110 billion in fiscal cliff spending cuts due to begin. march 27, 2013, funding of the federal government expires. august 1, 2013, white house's suggested deadline for resolving major changes to the tax code and entitlements. ron has this to say about the fiscal cliff -- let's hear from ray in philadelphia, a republican caller. caller: good morning. i think the republicans have to get out a better message. if we realize we ran out of money for all the programs we are having,...
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cliff. >>> a developing story out of north korea. the country may set off a long range rocket as early as this monday. that's according to media reports in south korea. the rocket is reportedly being fueled, but heavy snowfall may have slowed down preparations. north korea wants to launch what it calls a peaceful satellite sometimes before november 22nd. the u.s. believes the rocket is a cover to test missile technology. >>> president obama is speaking out against ongoing unrest in egypt. he has called egyptian president mohamed morsi to express concern about recent protests that have resulted in numerous deaths and injuries, calling the violence unacceptable. president obama did welcome morsi's call for talks with opposition leaders. this comes after a violent week in cairo. on wednesday night, six were killed and nearly 700 injured in protest outside morsi's palace. >>> this morning d.c. mayor vincent gray will announce a new flood prevention for bloomingdale. this comes after flash floods
cliff. >>> a developing story out of north korea. the country may set off a long range rocket as early as this monday. that's according to media reports in south korea. the rocket is reportedly being fueled, but heavy snowfall may have slowed down preparations. north korea wants to launch what it calls a peaceful satellite sometimes before november 22nd. the u.s. believes the rocket is a cover to test missile technology. >>> president obama is speaking out against ongoing...
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cliff. >> first, the fiscal cliff, relative to our nation's spending driven debt crisis is a pothole. you've got 0.3% of all americans that have million dollar incomes. this is a shell game. you can't tax your way out of this problem. i mean, you have revenues that are about the same levels they were five or six years ago, when deficits were running $100, $150 billion. now we know deficits are running $1 to $1.5 trillion. what's changed is on the spending side yet all this discussion is on the tax revenues. you can tax every millionaire 100% and run the government for two or three months. this is a spending driven crisis and it has to be solved on the spending side. until the president gets serious about it, i'm not sure what there is to talk about, soledad. >> i'm not sure that the only conversations have just been on the tax side. i actually think there have been conversations on both. at this moment, right, we're going over or toward the fiscal cliff. if you do nothing, all of our taxes are going up. why not, as a first move, say, listen, nobody at this point wants to raise taxes
cliff. >> first, the fiscal cliff, relative to our nation's spending driven debt crisis is a pothole. you've got 0.3% of all americans that have million dollar incomes. this is a shell game. you can't tax your way out of this problem. i mean, you have revenues that are about the same levels they were five or six years ago, when deficits were running $100, $150 billion. now we know deficits are running $1 to $1.5 trillion. what's changed is on the spending side yet all this discussion is...
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. >>> back here at home, issue number one is reaching a deal on that fiscal cliff. just 31 days left until we hit those $7 trillion in automatic spending cuts and tax increases if negotiations break down. and both sides of the aisle are going straight to the public in order to plead their case, or rather tell us why the other side is to blame. this is president obama in his weekly radio address. >> both parties say we should keep middle class taxes low. the senate has already passed a bill to keep income taxes from going up on middle class families. democrats in the house are ready to do the same thing. and if we can just get a few house republicans onboard, i'll sign this bill as soon as congress sends it my way. but it's unacceptable for some republicans in congress to hold middle class tax cuts hostage simply because they refuse to let tax rates go up on the wealthiest americans. >> in the republican response, senator orrin hatch takes th s hostage metaphor one step further and brings to mind a memorable movie scene. >> unfortunately, some on the other side of th
. >>> back here at home, issue number one is reaching a deal on that fiscal cliff. just 31 days left until we hit those $7 trillion in automatic spending cuts and tax increases if negotiations break down. and both sides of the aisle are going straight to the public in order to plead their case, or rather tell us why the other side is to blame. this is president obama in his weekly radio address. >> both parties say we should keep middle class taxes low. the senate has already...
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on this fiscal cliff issue. they put forward their proposal which has about $1.6 trillion in additional taxes, about $50 billion in stimulus spending, of course, here are. so numbers on your screen. met with laughter by michigan mcconnell senate minority leader said i didn't take this seriously. what was your take on this? >> i think mcconnell is right. this is not a serious proposal. the republics intimated that they might be willing to put some revenue on the table. and that's when the democrats basically said okay, then we want everything. it's not unlike the used car sales men or even the new car sales men who says i think we have got a deal. let me take the sales manager. then he comes back and says after we add the undercoating and that special paint and a dealer prep package, then it's going to cost you. this look, there is an old line that every person understands, when the teenage boy says if you just let me kiss you, that's all i want and that's the game the democrats are playing. look,. >> now you are
on this fiscal cliff issue. they put forward their proposal which has about $1.6 trillion in additional taxes, about $50 billion in stimulus spending, of course, here are. so numbers on your screen. met with laughter by michigan mcconnell senate minority leader said i didn't take this seriously. what was your take on this? >> i think mcconnell is right. this is not a serious proposal. the republics intimated that they might be willing to put some revenue on the table. and that's when the...
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cliff, they seem to be willing to go down that road of big government, big spending, no spending restraints, higher taxes. that is not what the republican party has ever been about. now enough republicans have gone down that road where we're in this mess now but what demint is saying look as conservatives we have to start talking about and fighting for first principles. that is the constitution, limited government, fiscal responsibility economic freedom. republican establishment is not clearly making that case. it is now up to conservatives to do that. demint will be leading charge. jon: he is the hero of the tea party which did so much damage to liberals in the 2010 election. >> done so much damage to themselves. harry reid would all agree would not be in the senate if not for the tea party nominating sharron angle, not not a strong candidate. delaware, todd aiken in missouri. tea party done a lot of damage to republican party. you would probably have senate republican leader mitch mcconnell if not for the tea party. to monica's point, jim demint will create problems from somebody like joh
cliff, they seem to be willing to go down that road of big government, big spending, no spending restraints, higher taxes. that is not what the republican party has ever been about. now enough republicans have gone down that road where we're in this mess now but what demint is saying look as conservatives we have to start talking about and fighting for first principles. that is the constitution, limited government, fiscal responsibility economic freedom. republican establishment is not clearly...
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no matter how close the country comes to plunging off the fiscal cliff, topped a visors say the president will not budge until republicans acknowledge they will keep tax rates where they are for middle income families and raise them on households earning more than $250,000 a year. >> in washington nothing's easy so there's going to be prolonged negotiations. and all of us are going to have so get out of our comfort zones to make that happen. g'm willing to do that. i'm hopeful that enough members of con willing to do that as well. we can solve these problems. but where the clock is really ticking right now is on middle- class taxes. >> reporter: but the clock isng. the cold political reality is this: mr. obama is now on record seeking twice as much in higher tax revenue than the democratically controlled senate passed earlier this year with only 51 votes. tax increases that cannot pass ase senate have no chance in the house republican conference, which is why republicans regard the president's proposal and his heech today as more static than substance. >> pelley: major, thank you. well, t
no matter how close the country comes to plunging off the fiscal cliff, topped a visors say the president will not budge until republicans acknowledge they will keep tax rates where they are for middle income families and raise them on households earning more than $250,000 a year. >> in washington nothing's easy so there's going to be prolonged negotiations. and all of us are going to have so get out of our comfort zones to make that happen. g'm willing to do that. i'm hopeful that enough...
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Dec 7, 2012
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that's part of the reason we want to avoid the fiscal cliff. it's actually too much deficit reduck sln too quickly in the wrong parts of the budget. you want a more thoughtful, thought out plan. on your point about the debt ceiling, we what we need is to have certainty, know where we're headed. not have multiple showdowns but the debt ceiling is only going to be increased significantly if it goes hand in hand with a big enough deal which has real changes in the budget. so the best thing we could do is put in place a balanced plan deals with all parts of the budget and really provides the kind of sense of security that households, small businesses, everybody needs to know so we can start planning for the economy and hopefully getting things growing back again. one of the things you see is that when your debt levels are as high as they are, in this country right now, that's a tamp on economic growth and can harm growth. that's the point we're at. we know that part of a growth strategy will have to be getting control of these deficits and debt and
that's part of the reason we want to avoid the fiscal cliff. it's actually too much deficit reduck sln too quickly in the wrong parts of the budget. you want a more thoughtful, thought out plan. on your point about the debt ceiling, we what we need is to have certainty, know where we're headed. not have multiple showdowns but the debt ceiling is only going to be increased significantly if it goes hand in hand with a big enough deal which has real changes in the budget. so the best thing we...
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they are going to work with congress on spending cut and other fiscal cliff details. the first meeting will be tomorrow on the hill. >> pelley: major, president said today he thought all this could be done by christmas. why does he think so? >> reporter: because that is the big takeaway, scott, from the president's conversation on saturday with house speaker john boehner. the two agreed it was in foeryone's best interest to get a fiscal cliff deal sooner rather than later, both agreed to aim for one before christmas, but they also acknowledged, scott, it will be very difficult to achieve that. >> pelley: thank you, major. will the president's team find a receptive republican congress? nancy cordes is on capitol hill for us tonight. nancy. >> reporter: well, scott, one top republican aide actually told me today that he sees these talks as one-sided, that republicans have been making all the proposals, and speaker boehner said he's still waiting for a balanced offer from the white house. >> republicans are willing to att revenue on the table but it's time for the presid
they are going to work with congress on spending cut and other fiscal cliff details. the first meeting will be tomorrow on the hill. >> pelley: major, president said today he thought all this could be done by christmas. why does he think so? >> reporter: because that is the big takeaway, scott, from the president's conversation on saturday with house speaker john boehner. the two agreed it was in foeryone's best interest to get a fiscal cliff deal sooner rather than later, both...
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jon: talk about government spending, we've got that fiscal cliff coming up january 1. might this conversation somehow be used to make some progress on that? >> reporter: it could because of the fact the other person on mitt romney's schedule today is congressman paul ryan, the house budget chairman. of course was his running mate back during the campaign. paul ryan has a key role in these budget talks of course as well. where they stand, a short time ago vice president biden went to a local costco here in washington, d.c., proclaimed himself optimistic they would get a deal. the fact of the matter yesterday, erskine bowles, a key player as well, saying he is slightly pessimistic. he says there is 2/3 chance they will go off the fiscal cliff. that is not what the markets want to hear, jon. jon: not at all. ed henry at the white house. if jay carney relents and let you into the meeting give us a shot. we'll be on air. >> reporter: i will give you a copy of the menu. jon: please do, thanks. jenna: we'll forget about politicians just for a moment. i promise we'll return th
jon: talk about government spending, we've got that fiscal cliff coming up january 1. might this conversation somehow be used to make some progress on that? >> reporter: it could because of the fact the other person on mitt romney's schedule today is congressman paul ryan, the house budget chairman. of course was his running mate back during the campaign. paul ryan has a key role in these budget talks of course as well. where they stand, a short time ago vice president biden went to a...
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Dec 3, 2012
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well, the whole fiscal cliff fight is supposed to be about cutting our ballooning debts. so why is the president not proposing a quarter trillion dollars in new spending? the question is also up next. plus, lindsey graham not missing words about the possibility of closing this prison camp and moving the prisoners here is michelle malcolm joins me live to discuss why he might not get his wish. and a desperate search effort. see why the young girl's mother is the prime suspect in removing her from the hospital. >> we were seeing them by the front entrance. and they walked into the bathroom. they disconnected her from her id and just walked up the front door and got into the car. [ male announcer ] if you're eligible for medicare, now is a good time to think about your options. are you looking for a plan that really meets your needs and your budget? as you probably know, medicare only covers about 80% of your part b medical expenses. the rest is up to you. so consider an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standard
well, the whole fiscal cliff fight is supposed to be about cutting our ballooning debts. so why is the president not proposing a quarter trillion dollars in new spending? the question is also up next. plus, lindsey graham not missing words about the possibility of closing this prison camp and moving the prisoners here is michelle malcolm joins me live to discuss why he might not get his wish. and a desperate search effort. see why the young girl's mother is the prime suspect in removing her...
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cliff talks. kayla is live with that. >> reporter: a little bit of movement potentially. president obama and house speaker john boehner spoke by phone yesterday as democrats and republicans continue to dig their heels in over this budget standoff. there's been no announcement of any new face the face talks as lawmakers try to reach a deal to avoid the so called fiscal cliff in january. treasury secretary tim geithner tells cnbc republicans have made a little progress, but the obama administration is "absolutely ready to go over the cliff if the gop doesn't agree to raise tax rates on wealthy americans." apple has lost a bit of its shine. the tech giant stock suffering its worst day in four years on thursday. several factors may have been at play. investors worried apple may be giving up ground in the tablet market to rivals, while nokia beat the company to the punch. there are also unconfirmed reports a stock clearinghouse firm is reducing the margin requirements on apple stock. apple lost $35 bil
cliff talks. kayla is live with that. >> reporter: a little bit of movement potentially. president obama and house speaker john boehner spoke by phone yesterday as democrats and republicans continue to dig their heels in over this budget standoff. there's been no announcement of any new face the face talks as lawmakers try to reach a deal to avoid the so called fiscal cliff in january. treasury secretary tim geithner tells cnbc republicans have made a little progress, but the obama...
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Dec 6, 2012
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specific revenue increases that reduced the deficit to avoid the fiscal cliff. we should not put off hard decisions of gimmicks or with triggers. that's what got us here in the first place. it's time to bite the bullet and make the tough decisions and make them now. the first thing we should do is immediately and permanently extend a middle-class tax cut. this will provide needed certainty to america's families and businesses and markets. this decisive action will ensure that millions of american families don't see attacks like of more than $2000 starting next month. in year-end agreement must also have a long-term extension of the debt ceiling. america cannot afford another debilitating to school showdown. it has to be a package deal. then we need to enact a long-term and comprehensive deficit solution. most serious plans recommend about $4 trillion deficit reduction over 10 years to restore fiscal balance. the budget control act banks about 1 billion. bringing our troops home from iraq and afghanistan saves another 800 billion. that's real savings. it should b
specific revenue increases that reduced the deficit to avoid the fiscal cliff. we should not put off hard decisions of gimmicks or with triggers. that's what got us here in the first place. it's time to bite the bullet and make the tough decisions and make them now. the first thing we should do is immediately and permanently extend a middle-class tax cut. this will provide needed certainty to america's families and businesses and markets. this decisive action will ensure that millions of...
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Dec 5, 2012
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we'll try to listen in a little more to see what he has to say about the fiscal cliff and otherwise. >> entirely on spending cuts, or a variation that has emerged is that we can do so while still lowering rates by closing loopholes and deductions. and you've heard from my team but let me just repeat. we don't have any objection to tax reform, tax simplification. closing loopholes, closing deductions, but there is a bottom line, an amount of revenue that is required in order for us to get a real, meaningful deficit reduction plan that hits the numbers that are required for us to stabilize our debt and deficits. and -- [. [no audio] kwroe. jenna: we gave it our best shot. sometimes we can't do it. the president speaking at the white house at the business roundtable about the economy. fiscal cliff certainly the issue in the short term for a lot of big businesses and certainly for a lot of american taxpayers. however, long term is another story when it comes to the economy, and entitlements, the president referring to that as well. as we continue to get that feedback you can check it out
we'll try to listen in a little more to see what he has to say about the fiscal cliff and otherwise. >> entirely on spending cuts, or a variation that has emerged is that we can do so while still lowering rates by closing loopholes and deductions. and you've heard from my team but let me just repeat. we don't have any objection to tax reform, tax simplification. closing loopholes, closing deductions, but there is a bottom line, an amount of revenue that is required in order for us to get...
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speak up for the fiscal cliff is part of the half trillion dollars in cuts to the pentagon. the defense has been saying we will not plan for sequestration's because they don't want to be cautious because it is like a gun to the head. they're now looking into planning for this because we are getting pretty late, and that may become a reality. back to you. melissa: rich edson, thank you so much. lori: let's continue this discussion. it is going to happen, it is exactly what the democrats want. according to scott hodge of the tax foundation. what are some alternatives to raising revenue? joining me with some ideas. to your point, you're written quite extensively on this topic. it seems the economy is poised to fall off the cliff and that's what the democrats and the president wants to happen. >> they want to allow all the bush tax cuts to expire. it happens naturally automatically. they don't even have to vote for it. in january we had to lower taxes for everybody. getting it very simply. lori: a lot of people are concerned. if we do go over the cliff, there's no resolution for
speak up for the fiscal cliff is part of the half trillion dollars in cuts to the pentagon. the defense has been saying we will not plan for sequestration's because they don't want to be cautious because it is like a gun to the head. they're now looking into planning for this because we are getting pretty late, and that may become a reality. back to you. melissa: rich edson, thank you so much. lori: let's continue this discussion. it is going to happen, it is exactly what the democrats want....
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Dec 6, 2012
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cliff, and he's clearly not interested at all in cutting any spending. what the president is really interested in, as we learned just yesterday, is getting as much taxpayer money as he can, first, by raising taxes on small business that he believes are making too much money and then on everybody else, not so he can lower the debt or the deficit but so he can spend to his heart's contefnlts for months the president has been saying all he wants is to raise taxes on the top 2% so he can tackle the debt and the deficit. however, yesterday he finally revealed that's not really his true intent. by demanding the power to raise the debt limit whenever he wants, by as much as he wants, he showed what he's really after is assuming unprecedented power to spend taxpayer dollars without any limit at all. this isn't about getting a handle on deficits or debt for him. it's about spending even more than he already has. why else would he demand the power to raise the debt limit on his own? by the way, why on earth would we ever consider giving a president who's brought u
cliff, and he's clearly not interested at all in cutting any spending. what the president is really interested in, as we learned just yesterday, is getting as much taxpayer money as he can, first, by raising taxes on small business that he believes are making too much money and then on everybody else, not so he can lower the debt or the deficit but so he can spend to his heart's contefnlts for months the president has been saying all he wants is to raise taxes on the top 2% so he can tackle the...
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Dec 7, 2012
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cliff sometime soon. here's danielle nottingham with where both sides stand on this friday. >> 2, 1. >> reporter: before the first family lit the national christmas tree, president obama said the mandatory spending cuts and tax hikes that could kick in 25 days from now are threatening to ruin the holidays for millions of americans. >> the american people are counting on this getting solved. >> reporter: the two parties are leaving negotiations to the two main power brokers, president obama and house speaker john boehner. >> if the president doesn't agree with our proposal, he has an obligation to families and small businesses to offer a plan of his own. a plan that can pass both chambers of the congress. >> reporter: with the clock ticking toward the fiscal cliff deadline, government workers have joined the push but they want to make sure they're not cut out of the deal. >> federal employees that i represent have offered up $103 billion to the federal deficit. >> reporter: jd cox of the american federatio
cliff sometime soon. here's danielle nottingham with where both sides stand on this friday. >> 2, 1. >> reporter: before the first family lit the national christmas tree, president obama said the mandatory spending cuts and tax hikes that could kick in 25 days from now are threatening to ruin the holidays for millions of americans. >> the american people are counting on this getting solved. >> reporter: the two parties are leaving negotiations to the two main power...
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Nov 29, 2012
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we cannot address the fiscal cliff without talking about entitlements, which are 54% of our spending. anybody can do the math on that. thank you, mr. president. and i yield the floor. the presiding officer: the nuclear from arizona. -- the senator from arizona. mr. kyl: i thank my colleague from texas for her leadership on this and so many other issues we have worked on over the years. one of my regrets in leaving the senate that i will not be able to work with her. we'll be off doing something else, but we're not going to give up on the fights we've been engaged in over the years. i want to pick up where my colleague left off about the meanings of this fiscal cliff and what is being proposed as alternatives to going over the fiscal cliff. i was interested that in week the president has embarked on what one newspaper referred to as "the fiscal cliff campaign trail." he is out as if the campaign were still going on, and the centerpiece of his pitch -- and i heard him say it again last night -- is that the house of representatives should pass a bill that was passed in the senate related
we cannot address the fiscal cliff without talking about entitlements, which are 54% of our spending. anybody can do the math on that. thank you, mr. president. and i yield the floor. the presiding officer: the nuclear from arizona. -- the senator from arizona. mr. kyl: i thank my colleague from texas for her leadership on this and so many other issues we have worked on over the years. one of my regrets in leaving the senate that i will not be able to work with her. we'll be off doing something...
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Nov 30, 2012
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cuts in the fiscal cliff deal. >> as i told the president a couple weeks ago, there's a lot of things i've wanted in my life, but almost all of them had a price tag attached to them. i continue to believe that any increase in the debt limit has to be accompanied by spending reductions that meet or exceed it. >> asking that a political price be paid in order for congress to do its job to ensure that the united states of america pays its bills and does not default for the first time in its history is deeply irresponsible. it was deeply irresponsible in the summer of 2011, and it would be deeply irresponsible if we were to see that kind of approach taken again. >> with boehner calling on the white house to lay out specific spending cuts, senate majority leader harry reid offered his own response to the house speaker. >> he says that democrats have got to get serious about cuts, spending cuts. where's the disconnect, then? >> i don't understand his brain, so you should ask him. okay? >> huh. don't understand his brain. i don't understand your senate that hasn't produced a budget in, what,
cuts in the fiscal cliff deal. >> as i told the president a couple weeks ago, there's a lot of things i've wanted in my life, but almost all of them had a price tag attached to them. i continue to believe that any increase in the debt limit has to be accompanied by spending reductions that meet or exceed it. >> asking that a political price be paid in order for congress to do its job to ensure that the united states of america pays its bills and does not default for the first time...
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has to be included in the deal that averts the fiscal cliff? >> there's a framework that we presented to the white house two weeks ago. the framework is -- has been agreed to in terms of really a down payment on the end of this year. that would include spending cuts and it would include revenue. setting up a process for entitlement reform next year and tax reform for next year. but this was way out of balance. and not a recognition on the part of the white house about the serious spending problem that we have. >> the prospect of going over the fiscal cliff, which you just called serious business, for extending the lower tax rate and not the upper ones. >> i'm going to do everything i can to putting the american economy, american people through the fiasco of going over the fiscal cliff. >> which is worse? >> as i told the president a couple weeks ago, there is a lot of things i have wanted in my life but almost all of them had a price tag attached to them. in we are going to talk about the debt limit in this, we are -- there's going to be some p
has to be included in the deal that averts the fiscal cliff? >> there's a framework that we presented to the white house two weeks ago. the framework is -- has been agreed to in terms of really a down payment on the end of this year. that would include spending cuts and it would include revenue. setting up a process for entitlement reform next year and tax reform for next year. but this was way out of balance. and not a recognition on the part of the white house about the serious spending...
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joe, the big headline is the fact you lowered your guidance and blamed the fiscal cliff. how specifically will it affect -- >> sure, in our fiscal quarter, the current fiscal quarter ends january 31st, so we're you havely sensitive to the mix between what they spend in february and march versus what they spend? january and we're watching closely, but we have concern that the q1 spending may be unusually backweighted into february and march this year. >> but aren't you providing the kind of accountability and targeting that advertisers increasingly need? i mean, wouldn't advertisers, you know, when they're strapped for cash, be shifting out of businesses like newspapers into pandora? it seems like you should le thriving despite what's going on. >> and absolutely, if you ever look at the numbers, we had a terrific revenue we just reported. 60% year on year, and even at the reduced revenue guidance for the current quarter, we're looking at just under 50% year on year growth, so still tremendous progress, and particularly in the mobile world, where we looked to continue the t
joe, the big headline is the fact you lowered your guidance and blamed the fiscal cliff. how specifically will it affect -- >> sure, in our fiscal quarter, the current fiscal quarter ends january 31st, so we're you havely sensitive to the mix between what they spend in february and march versus what they spend? january and we're watching closely, but we have concern that the q1 spending may be unusually backweighted into february and march this year. >> but aren't you providing the...
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next on the rundown the president's offer to avoid going over the fiscal cliff tax and spend. what about any kind of cuts? we're live in washington coming up next. >> brian: so disappointing. then the circus is overment big update in the story of zebra and his pony pal who ran through the streets of new york city. >> gretchen: do you know what happened? >> brian: i do know what happened. and it's got me well n a tizzy. >> gretchen: really? >> brian: yes [ male announcer ] this december, remember -- you can stay in and share something... or you can get out there and actually share something. ♪ ♪ the lexus december to remember sales event is on. this is the pursuit of perfection. it's my favorite time of year again and now -- i got a great new way to get deals. it's called bankamerideals, from bank of america. i choose the cash back deals in my mobile or online banking. i just use my bank of america debit or credit card when i pay. and i get as much as 15% cash back -- put into my account. this is on top of other rewards and discounts i already get. best of all -- it's free.
next on the rundown the president's offer to avoid going over the fiscal cliff tax and spend. what about any kind of cuts? we're live in washington coming up next. >> brian: so disappointing. then the circus is overment big update in the story of zebra and his pony pal who ran through the streets of new york city. >> gretchen: do you know what happened? >> brian: i do know what happened. and it's got me well n a tizzy. >> gretchen: really? >> brian: yes [ male...
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that's how i want to solve the fiscal cliff problem, is spending more taxpayer money. so, the president doesn't have the authority to raise the debt ceiling, he shouldn't have the authority. congress, as you all mentioned earlier is in charge of the money, the purse in the united states. >> dave: of course, there wasn't just that ability to continuously raise the debt ceiling, and 1.6 trillion in new taxes, 50 billion in new stimulus spending, to mention a couple of provisions in his offer. is there any, any room for compromise where we are right now in avoiding the fiscal cliff? >> well, there will have to be some compromise, there will have to be some plan, but the president's proposal is so ridiculous. the idea that he's going to raise taxes, really fwe just followed his plan, wouldn't solve the problem anyway, because the spending is so much. and that he wants to spend more money, he wants to-- another stimulus bill. the first one didn't work well for the country, but yet, we cannot spend our way into prosperity and tax our way into prosperity, which is what the pr
that's how i want to solve the fiscal cliff problem, is spending more taxpayer money. so, the president doesn't have the authority to raise the debt ceiling, he shouldn't have the authority. congress, as you all mentioned earlier is in charge of the money, the purse in the united states. >> dave: of course, there wasn't just that ability to continuously raise the debt ceiling, and 1.6 trillion in new taxes, 50 billion in new stimulus spending, to mention a couple of provisions in his...
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martha: west virginia senator joe manchin, a democrat discussing the fiscal cliff, social security within medicare. he believes they must be run more efficiently. >> last year the office of budget management says $115 billion was misspent. that's a tremendous savings right there. they are both much lower than everyone says we need. all economists say we need a minimum of $4 trillion or greater swing. that means a combining of many things. i think both of them are in the two or not much more than two or lower than two. that only goats you halfway there. i don't know how we got off track of what we really need to fix this. martha: he argues the economy is ready to take off if people would just stop playing the blame game. bill: one of the changes that may be coming is the reduction in the mortgage interest rate duck you can claim. but according to the i.r.s. only a small percentage of americans claim it after all. all. 37% in maryland and 15% in north dakota. 73 per of americans are opposed to changing that. martha: the owner of popular restaurant chains claims complaints about obama-care h
martha: west virginia senator joe manchin, a democrat discussing the fiscal cliff, social security within medicare. he believes they must be run more efficiently. >> last year the office of budget management says $115 billion was misspent. that's a tremendous savings right there. they are both much lower than everyone says we need. all economists say we need a minimum of $4 trillion or greater swing. that means a combining of many things. i think both of them are in the two or not much...
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that is the fiscal cliff. we shouldn't be dealing with other issues that are long term in order to avert the cliff as it were. that is immediate crisis. we have long term situation --. bill: but you know when lawmakers get a little bit of rope, you know, when they get time to think about it and push it off to the next year, it never gets done. this budget proposal, there are many who wonder whether or not even democrats could support it. the last budget that came from the white house went to the senate, it went 98-0 against it. no one voted for it. melissa: well, that was kind of a tricky parliamentary issue as well but, i do take issue with one thing, the idea we haven't dealt with entightments. we had two years, a year and a half we debated medicare. we made significant changes in medicare. we just had a campaign which republicans including governor romney time after time after time charged that we had cut $616 billion in spending out of medicare and we reformed the program. we have looking toward new ways t
that is the fiscal cliff. we shouldn't be dealing with other issues that are long term in order to avert the cliff as it were. that is immediate crisis. we have long term situation --. bill: but you know when lawmakers get a little bit of rope, you know, when they get time to think about it and push it off to the next year, it never gets done. this budget proposal, there are many who wonder whether or not even democrats could support it. the last budget that came from the white house went to...
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they're both accusing the other of pushing the nation toward the fiscal cliff. in fact republicans say democrats are driving us at high speed toward the cliff like "thelma & louise". intellectually we know it is likely democrats will agree to more spending cuts than they want. republicans will give on tax revenue. republicans say though will not raise tax rates treasury secretary geithner says they will have to. >> there is no path to an agreement, there does not involve republicans acknowledging that rates have to go up for the wealthiest americans. there is no way to raise a meaningful amount of revenue relative to the size of our fiscal challenges by limiting value of deductions to wealthiest americans. there is just not enough room there. >> reporter: geithner says he will believe there is an agreement because the alternative is unthinkable. time is running out as you point out, bill. bill: on a tenuous economy too. what are republicans say, wendell? >> reporter: john baker says they don't have a starting point with democrats refusing to say what spending cu
they're both accusing the other of pushing the nation toward the fiscal cliff. in fact republicans say democrats are driving us at high speed toward the cliff like "thelma & louise". intellectually we know it is likely democrats will agree to more spending cuts than they want. republicans will give on tax revenue. republicans say though will not raise tax rates treasury secretary geithner says they will have to. >> there is no path to an agreement, there does not involve...
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i'm suffering from fiscal cliff fatigue i think it will get worse because the end of the year is approaching. melissa: thank you for coming on. lori: way to bring it home. spending cuts, looking at even more spending or the possibility of that. housing secretary donovan branding how he hopes to avoid a government bailout for the fha. it seems like more dollar signs out there to me, peter. >> that is right. the housing secretary cannot rule it out. washington is certainly closer to one after the latest audit of the fha fund has a capital reserve shortfall of $16.3 billion. the administration says it is too soon to say whether the fha will need treasury funding. >> can you assure us and the american people today as the secretary of hud and fha will not do that, or you don't know yet? >> senator, i wish i had a crystal ball and i could tell you we won't at the end of the year given the reports. obviously i am highly concerned about that possibility. >> to avoid a bailout agency is increasing fees and making other reforms. the administration says it will signal its intentions on the treasury bai
i'm suffering from fiscal cliff fatigue i think it will get worse because the end of the year is approaching. melissa: thank you for coming on. lori: way to bring it home. spending cuts, looking at even more spending or the possibility of that. housing secretary donovan branding how he hopes to avoid a government bailout for the fha. it seems like more dollar signs out there to me, peter. >> that is right. the housing secretary cannot rule it out. washington is certainly closer to one...
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Dec 4, 2012
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tell me about energy policy and where it fits in with the fiscal cliff. what we will spend money on and how we were tightened our belts. >> the major place it fits is the right policy would create an environment which would produce a lot more revenue. that would help to reduce the debt. the federal government doesn't
tell me about energy policy and where it fits in with the fiscal cliff. what we will spend money on and how we were tightened our belts. >> the major place it fits is the right policy would create an environment which would produce a lot more revenue. that would help to reduce the debt. the federal government doesn't
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Nov 29, 2012
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to read the stories of the press on the fiscal cliff, well, you'd think change is on the horizon just 33 days away, well, it doesn't maer much. in fact, just sit back, relax. the fiscal cliff is not a big deal. i'll quote one here. it's unlikely all of these bad things happen or stay in effect for an extended period of time. pundits call if the fiscal cliff smoke that is, instead o a cliff, the rising support for junking the fiscal approach as confusing and renaming it the austerity crisis or bomb. that's it. according to the u.s. news and world report, give the cliff another name, and that would change the entire impact on its problems. the reality, though, is this. you'll pay higher taxes in all likelihood consider these numbers from the tax policy center. middle class earners, folks with an income of $64,000, their rate increased 3 #.8% or2,000. upper middle class folks, $108,000 in income, family of four maybe, two people working, your rate is 4.2% or $ $3500. if you make more than half a million, watch for a more than 5 #% hike in taxes or $15,000 tax increase. in rich land, earn
to read the stories of the press on the fiscal cliff, well, you'd think change is on the horizon just 33 days away, well, it doesn't maer much. in fact, just sit back, relax. the fiscal cliff is not a big deal. i'll quote one here. it's unlikely all of these bad things happen or stay in effect for an extended period of time. pundits call if the fiscal cliff smoke that is, instead o a cliff, the rising support for junking the fiscal approach as confusing and renaming it the austerity crisis or...
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host: please go ahead with your comment about spending in the fiscal cliff. kip well ok, i'm going to tell you as a native american what the government's done for our people pretty much for 150 years. we've been given a check, barely enough to survive. on the reservation, high poverty, drug, alcohol, suicide rates. i look at the last 50 years and what the government's done for the black man, i've never seen not one public housing complex. you can go down to hud and look at all the little by they girls sitting in their with a baby in one arm and a cell phone and a cigarette in the other -- host: so terry, what's your point? caller: what my point is is that democrats are putting this country into poverty. plain and simple. host: all right, we got your point, thank you for calling in this morning. from politico this morning -- that's from politico this morning, and this is from the hill newspaper -- hagel, a centrist on foreign policy has expressed support for some of the obama administrations recent national security policy. again, that's from the hill reportin
host: please go ahead with your comment about spending in the fiscal cliff. kip well ok, i'm going to tell you as a native american what the government's done for our people pretty much for 150 years. we've been given a check, barely enough to survive. on the reservation, high poverty, drug, alcohol, suicide rates. i look at the last 50 years and what the government's done for the black man, i've never seen not one public housing complex. you can go down to hud and look at all the little by...
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cuts known as the fiscal cliff take effect. bloomberg government hosted a discussion this morning with the top democrat on the house budget committee, chris van hollen as well as republican senator bob corker and senator mark warner. at 9:00 eastern, president obama and house spear jaub boehner and spoke about the fiscal cliff today. republicans might be willing to agree to higher tax rates on the wealthy in january. house speaker calling on the obama administration to respond to the republicans' deficit proposal. president obama is at 9:00 eastern followed by speaker boehner. >> this weekend on c-span 3's american history tv, follow harry truman's eldest grandson to japan. >> everybody has their own view what happened and i don't want to argue survival to anyone in japan about the history. we're past that. and my whole purpose for being here is to listen to the living and to do what i can. >> sunday at 9:00 p.m. eastern on c-span 3. >> the supreme court will look at what was passed in 2008 by a majority of 6-3 i believe and go
cuts known as the fiscal cliff take effect. bloomberg government hosted a discussion this morning with the top democrat on the house budget committee, chris van hollen as well as republican senator bob corker and senator mark warner. at 9:00 eastern, president obama and house spear jaub boehner and spoke about the fiscal cliff today. republicans might be willing to agree to higher tax rates on the wealthy in january. house speaker calling on the obama administration to respond to the...
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tracy: stimulus spending will help the fiscal cliff. our first guest just finished up a mead meeting with senate minority leader mitch mcconnell. gerry seib is "wall street journal" washington bureau chief. we're dying to know what he said? what did he say? >> he said several things and we have story on the website that summarizes all of this. first of all his reaction to the geithner proposal today was to laugh at it. comical and essentially a nonstarter. in his view the ball remains in the president's court. that is what you would expect. secondly he said nothing better is going on in private. it is not as if there is some quiet talks going on he said, that have a better tone than what we've been hearing the last 48 hours. thirdly, really intriguingly, here is what we're looking for from the white house on entitlements, on steps to rein in spending on entitlement programs. republicans have been saying we're waiting for something to happen on spending so that we can then maybe have a more meaningful conversation on revenues on the othe
tracy: stimulus spending will help the fiscal cliff. our first guest just finished up a mead meeting with senate minority leader mitch mcconnell. gerry seib is "wall street journal" washington bureau chief. we're dying to know what he said? what did he say? >> he said several things and we have story on the website that summarizes all of this. first of all his reaction to the geithner proposal today was to laugh at it. comical and essentially a nonstarter. in his view the ball...
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the president is driving the country over the fiscal cliff. he thinks he can convince the establishment press to blame other people for his decisions. gerri: you know, to his point, the new york times had an interesting headline today, which just kind of points out where the left is coming from on this. they say obama's into giving in pushing the gop to come to the table. i thought this was almost comical? how did you respond? >> it is kind of, ." pushing the gop to come to the table, you know, where he wants the table to be set, not where the democrats -- i mean, the republicans of the table to be set. the republicans need to start defining the issue, not defending the issue. if they are not allowed to define the issue then just let barack obama try this over the cliff. barack obama, as originally the grand bargain one and 800 billion in tax cuts. then he won the election. now he wants to increase it to over one half trillion. he has double down on all of these things. if you go back historically in this whole program, you might remember roy
the president is driving the country over the fiscal cliff. he thinks he can convince the establishment press to blame other people for his decisions. gerri: you know, to his point, the new york times had an interesting headline today, which just kind of points out where the left is coming from on this. they say obama's into giving in pushing the gop to come to the table. i thought this was almost comical? how did you respond? >> it is kind of, ." pushing the gop to come to the...
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cuts made to avoid the fiscal cliff would affect native-american issues. and you may remember yesterday, the president met with a group of six governors on this issue. this has become the primary focus on washington. alison burns is in our d.c. newsroom with more on this. >> reporter: that's right, tori. president obama is trying to convince these business leaders that he has a plan to avoid the fiscal cliff and get the economy back on track. but he says it's going to take some sacrifice. here's a look at the president shaking hands with business leaders about 15 minutes ago and he's calli for tax increases on the wealthiest americans and an extension of tax rates for the middle school. talks have fallen apart in recent days. but the president insists he's working with republicans to try to get a deal. republicans are willing to cut -- >> reporter: republicans are willing to cut loopholes. here's what john boehner said. >> the revenues being put on the table are gonna come from guess who? the rich. >> reporter: republicans say it's clear to them that presi
cuts made to avoid the fiscal cliff would affect native-american issues. and you may remember yesterday, the president met with a group of six governors on this issue. this has become the primary focus on washington. alison burns is in our d.c. newsroom with more on this. >> reporter: that's right, tori. president obama is trying to convince these business leaders that he has a plan to avoid the fiscal cliff and get the economy back on track. but he says it's going to take some sacrifice....
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both parties taking to the airwaves this weekend, trying to blame each other over the fiscal cliff talk. this is all happening less than a month until accommodation of spending cuts and tax hikes kicks in. right now, it seems like both sides are moving further apart from the deal. here is house speaker john boehner and treasury secretary timothy geithner. >> we are flabbergasted. we have seven weeks between election day in the end of the year. three of those weeks have been wasted. >> we are not going to extend an extension of the tax rates. we think they need to go back to those levels. if you don't do that, you have to ask yourself, whose taxes are we going to raise? were we going to find the money bring a balanced plan in place? jenna: senator lindsey graham, a republican known for reaching across the aisle, not looking at this with a great deal of optimism. >> i think we're going over the fiscal cliff. it's pretty clear that they have made this happen. they are not saving social security and medicare and medicaid from imminent bankruptcy. jenna: james is live in washington with more
both parties taking to the airwaves this weekend, trying to blame each other over the fiscal cliff talk. this is all happening less than a month until accommodation of spending cuts and tax hikes kicks in. right now, it seems like both sides are moving further apart from the deal. here is house speaker john boehner and treasury secretary timothy geithner. >> we are flabbergasted. we have seven weeks between election day in the end of the year. three of those weeks have been wasted....
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he's also getting ready to take his fiscal cliff message on the road. he'll try to convince the american people the best way to avoid the fiscal cliff is to extend the bush era tax cuts for the middle class. >> it's too important for washington to screw this up. >> reporter: president obama is putting pressure on congressional republicans and he's enlisting middle class americans in getting the gop to take action on taxes. >> when the american people speak loudly enough, lo and behold congress listens. >> reporter: tomorrow he'll host a campaign style event where he calls on lawmakers to extend the tax rates on families making less than $250,000 a year. once that's done they can work on other details such as spending cuts and changes to the tax code, medicare and medicaid. >> he's out there campaigning for his position. i get it. we understand it. at the end of the day he has to lead on this issue. >> reporter: some republican lawmakers have said they are willing to compromise on the tax issue. oklahoma representative tom cole said the gop should sign o
he's also getting ready to take his fiscal cliff message on the road. he'll try to convince the american people the best way to avoid the fiscal cliff is to extend the bush era tax cuts for the middle class. >> it's too important for washington to screw this up. >> reporter: president obama is putting pressure on congressional republicans and he's enlisting middle class americans in getting the gop to take action on taxes. >> when the american people speak loudly enough, lo...
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if they can't avoid the fiscal cliff, it means on january 1st, every american will pay more income tax, between 2,000 to $2,200 for the average family. $500 billion in automatic spending cuts will go into effect. half of that at the pentagon. the other half coming in transportation, food safety and research. economists feel if washington can't strike a deal, the economy will fall back into recession and the unemployment rate will shoot up, rob and paula. >> tahman, the clock is ticking in all of this. where do the talks go from here this week? >> well, the white house said president obama presented his plan last week and the gop leaders shot it down. now, the ball is in the hands of the republicans. right now, it's all about the math. republicans may have to cave on taxes but president obama may have to accept deeper spending cuts. only 18 days left. >> the messy art of compromise. tahman bradley live in washington. >>> and rivers are rising across northern california this morning after three powerful storms blow through in less than a week. the latest round of flooding rain drenched t
if they can't avoid the fiscal cliff, it means on january 1st, every american will pay more income tax, between 2,000 to $2,200 for the average family. $500 billion in automatic spending cuts will go into effect. half of that at the pentagon. the other half coming in transportation, food safety and research. economists feel if washington can't strike a deal, the economy will fall back into recession and the unemployment rate will shoot up, rob and paula. >> tahman, the clock is ticking in...
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the big battle over the fiscal cliff getting increasingly contentious. as we know, time is running out. just 27 days to go until more than $500 billion in automatic spending cuts and tax hikes actually kick in. now, the president, he is standing firm saying there's not going to be a deal medicals taxes for the wealthiest americans go up. the president is offering $400 billion in cuts from entitlements, but he also wants to spend $50 billion more on infrastructure. go to house speaker john boehner. he is offering $800 billion in increased revenue. he also wants much deeper cuts in entitlements and $800 billion in other cuts many spending. we've got reporters -- i want to start off with you. dana bash on the hill. a standoff here, republicans essentially saying, look, the president is not being reasonable here, and then you have the white house saying this is magic beans and fairy dust. is this a lot of posturing here? are we really at an impasse? >> yes to both of those questions. there is a lot of post urg, but we do seem to be at an impasse. i want to s
the big battle over the fiscal cliff getting increasingly contentious. as we know, time is running out. just 27 days to go until more than $500 billion in automatic spending cuts and tax hikes actually kick in. now, the president, he is standing firm saying there's not going to be a deal medicals taxes for the wealthiest americans go up. the president is offering $400 billion in cuts from entitlements, but he also wants to spend $50 billion more on infrastructure. go to house speaker john...
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jon: some new information now on the looming fiscal cliff negotiations. strong words from republican leadership after president obama's opening bid. the president wants $1.6 trillion in new taxes, $50 billion in new stimulus spending, and expanded powers for the president to raise the federal debt limit without getting any approval from congress. a senior house gop source calls the president's plan, quote, absurd. and provides a 6-point explanation to back it up. is the economy headed for that fiscal cliff? is all of this negotiating dead in the water? let's bring in our panel. monica crowley, radio talk show host and author of monomemo.com. jewelry roginsky former political advisor to senator frank lautenberg of new jersey. both fox news contributors. you say the president is not interested in compromise at all? >> no. i have just wrote a whole book about this called, what the bleep just happened. i traced first four years of his presidency. anytime he proposed a economic proposal or physical proposal it contained the exact same elements, which is tax hi
jon: some new information now on the looming fiscal cliff negotiations. strong words from republican leadership after president obama's opening bid. the president wants $1.6 trillion in new taxes, $50 billion in new stimulus spending, and expanded powers for the president to raise the federal debt limit without getting any approval from congress. a senior house gop source calls the president's plan, quote, absurd. and provides a 6-point explanation to back it up. is the economy headed for that...